Upcoming Dividend • Jul 16
Upcoming dividend of NT$0.52 per share Eligible shareholders must have bought the stock before 23 July 2026. Payment date: 19 August 2026. Payout ratio is a comfortable 75% but the company is not cash flow positive. Trailing yield: 5.0%. Within top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (3.3%). Buy Or Sell Opportunity • Jul 14
Now 20% undervalued The stock has been flat over the last 90 days, currently trading at NT$10.40. The fair value is estimated to be NT$13.08, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.6% over the last 3 years. Earnings per share has declined by 39%. Declared Dividend • Jun 26
Dividend increased to NT$0.52 Dividend of NT$0.52 is 4.0% higher than last year. Ex-date: 23rd July 2026 Payment date: 19th August 2026 Dividend yield will be 5.0%, which is higher than the industry average of 2.7%. Sustainability & Growth The dividend has remained flat since 10 years ago. However, payments have been volatile during that time. Earnings per share has grown by 5.5% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Jun 05
Now 20% undervalued Over the last 90 days, the stock has risen 4.8% to NT$10.30. The fair value is estimated to be NT$12.89, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.6% over the last 3 years. Earnings per share has declined by 39%. Reported Earnings • May 19
First quarter 2026 earnings released: EPS: NT$0.28 (vs NT$0.19 in 1Q 2025) First quarter 2026 results: EPS: NT$0.28 (up from NT$0.19 in 1Q 2025). Revenue: NT$2.91b (up 25% from 1Q 2025). Net income: NT$766.4m (up 43% from 1Q 2025). Profit margin: 26% (up from 23% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. New Risk • Mar 21
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 18% Last year net profit margin: 27% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (18% net profit margin). Reported Earnings • Mar 14
Full year 2025 earnings released: EPS: NT$0.61 (vs NT$1.00 in FY 2024) Full year 2025 results: EPS: NT$0.61 (down from NT$1.00 in FY 2024). Revenue: NT$9.31b (down 8.2% from FY 2024). Net income: NT$1.83b (down 34% from FY 2024). Profit margin: 20% (down from 27% in FY 2024). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • Mar 12
O-Bank Co., Ltd., Annual General Meeting, Jun 12, 2026 O-Bank Co., Ltd., Annual General Meeting, Jun 12, 2026. Location: no,75, ch`ang hsing st., da-an district, taipei city Taiwan Reported Earnings • Nov 17
Third quarter 2025 earnings released: EPS: NT$0.21 (vs NT$0.23 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.21 (down from NT$0.23 in 3Q 2024). Revenue: NT$2.48b (up 1.0% from 3Q 2024). Net income: NT$570.4m (down 11% from 3Q 2024). Profit margin: 23% (down from 26% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Upcoming Dividend • Jul 03
Upcoming dividend of NT$0.50 per share Eligible shareholders must have bought the stock before 10 July 2025. Payment date: 06 August 2025. Payout ratio is a comfortable 48% but the company is not cash flow positive. Trailing yield: 4.7%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (3.7%). Reported Earnings • May 16
First quarter 2025 earnings released: EPS: NT$0.19 (vs NT$0.35 in 1Q 2024) First quarter 2025 results: EPS: NT$0.19 (down from NT$0.35 in 1Q 2024). Revenue: NT$1.62b (down 44% from 1Q 2024). Net income: NT$537.1m (down 44% from 1Q 2024). Profit margin: 33% (in line with 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Announcement • Apr 19
O-Bank Co., Ltd. to Report Q1, 2025 Results on May 02, 2025 O-Bank Co., Ltd. announced that they will report Q1, 2025 results on May 02, 2025 Announcement • Mar 13
O-Bank Co., Ltd., Annual General Meeting, Jun 13, 2025 O-Bank Co., Ltd., Annual General Meeting, Jun 13, 2025. Location: no,75, ch`ang hsing st., da-an district, taipei city Taiwan Announcement • Feb 28
O-Bank Co., Ltd. to Report Fiscal Year 2024 Results on Mar 12, 2025 O-Bank Co., Ltd. announced that they will report fiscal year 2024 results on Mar 12, 2025 New Risk • Dec 10
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.0% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (27% net profit margin). Shareholders have been diluted in the past year (3.0% increase in shares outstanding). Reported Earnings • Nov 17
Third quarter 2024 earnings released: EPS: NT$0.23 (vs NT$0.24 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.23 (down from NT$0.24 in 3Q 2023). Revenue: NT$2.46b (up 9.6% from 3Q 2023). Net income: NT$640.1m (flat on 3Q 2023). Profit margin: 26% (down from 29% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Oct 23
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 7.3% to NT$9.97. The fair value is estimated to be NT$12.48, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.6% over the last 3 years. Earnings per share has grown by 25%. Buy Or Sell Opportunity • Oct 09
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 8.3% to NT$9.99. The fair value is estimated to be NT$12.50, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.6% over the last 3 years. Earnings per share has grown by 25%. Reported Earnings • Sep 04
Second quarter 2024 earnings released: EPS: NT$0.20 (vs NT$0.23 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.20. Revenue: NT$2.34b (flat on 2Q 2023). Net income: NT$681.2m (up 7.7% from 2Q 2023). Profit margin: 29% (up from 27% in 2Q 2023). Announcement • Aug 20
O-Bank Co., Ltd. to Report Q2, 2024 Results on Aug 30, 2024 O-Bank Co., Ltd. announced that they will report Q2, 2024 results on Aug 30, 2024 Announcement • Aug 10
O-Bank Co., Ltd. announced that it expects to receive TWD 79.999992 million in funding from Fositek Corp. O-Bank Co., Ltd. announced a private placement to issue 6,666,666 Series B Non Convertible Preferred Shares at an issue price of TWD 12 per share for the gross proceeds of TWD 79,999,992 on August 8, 2024. The transaction will include participation from new investor Fositek Corp. The transaction has been approved by shareholders of the investors. Upcoming Dividend • Jul 17
Upcoming dividend of NT$0.44 per share Eligible shareholders must have bought the stock before 24 July 2024. Payment date: 20 August 2024. Payout ratio is a comfortable 48% but the company is not cash flow positive. Trailing yield: 4.1%. Lower than top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (3.1%). Declared Dividend • Jun 29
Dividend increased to NT$0.45 Dividend of NT$0.45 is 18% higher than last year. Ex-date: 24th July 2024 Payment date: 20th August 2024 Dividend yield will be 4.3%, which is higher than the industry average of 2.7%. Sustainability & Growth The dividend has decreased over the past 96 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 13% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 18
First quarter 2024 earnings released: EPS: NT$0.35 (vs NT$0.27 in 1Q 2023) First quarter 2024 results: EPS: NT$0.35 (up from NT$0.27 in 1Q 2023). Revenue: NT$2.88b (up 15% from 1Q 2023). Net income: NT$953.5m (up 29% from 1Q 2023). Profit margin: 33% (up from 29% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Announcement • Mar 28
O-Bank Co., Ltd., Annual General Meeting, Jun 14, 2024 O-Bank Co., Ltd., Annual General Meeting, Jun 14, 2024. Reported Earnings • Mar 19
Full year 2023 earnings released: EPS: NT$0.87 (vs NT$1.80 in FY 2022) Full year 2023 results: EPS: NT$0.87 (down from NT$1.80 in FY 2022). Revenue: NT$8.65b (down 25% from FY 2022). Net income: NT$2.49b (down 49% from FY 2022). Profit margin: 29% (down from 43% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 08
Third quarter 2023 earnings released: EPS: NT$0.24 (vs NT$0.26 in 3Q 2022) Third quarter 2023 results: EPS: NT$0.24 (down from NT$0.26 in 3Q 2022). Revenue: NT$2.24b (down 5.9% from 3Q 2022). Net income: NT$645.1m (down 7.5% from 3Q 2022). Profit margin: 29% (in line with 3Q 2022). Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Announcement • Nov 02
O-Bank Co., Ltd. Announces Change of Chief Information Security Officer, Effective December 4, 2023 O-Bank Co., Ltd. announced the appointment of Yaochung Lee, Senior Analyst of National Immigration Agency as chief information security officer in the place of Lichen Hung, Executive Vice President. Effective date: December 4, 2023. Reason for the change: new replacement. Reported Earnings • Aug 24
Second quarter 2023 earnings released: EPS: NT$0.23 (vs NT$0.11 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.23 (up from NT$0.11 in 2Q 2022). Revenue: NT$2.36b (up 21% from 2Q 2022). Net income: NT$759.4m (up 149% from 2Q 2022). Profit margin: 32% (up from 16% in 2Q 2022). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Announcement • Aug 22
O-Bank Co., Ltd. Announces Executive Changes O-Bank Co., Ltd. announced the appointment of Lichen Hung as chief information security officer, effective September 1, 2023. Lichen Hung is Executive Vice President of the company. The company announced the resignation of Kevin H.J. Tan as chief information security officer, effective September 1, 2023. Kevin H.J. Tan is Executive Vice President of the company. Upcoming Dividend • Jul 20
Upcoming dividend of NT$0.38 per share at 3.7% yield Eligible shareholders must have bought the stock before 27 July 2023. Payment date: 23 August 2023. Payout ratio is a comfortable 20% but the company is not cash flow positive. Trailing yield: 3.7%. Lower than top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (3.0%). Announcement • Jun 30
O-Bank Co., Ltd. Announces Common Stock Cash Dividend, Payable on August 23, 2023 The board of directors of O-Bank Co., Ltd. announced a common stock cash dividend of TWD 1,037,958,714 or TWD 0.38 per share. Ex-rights (ex-dividend) trading date is July 27, 2023. Ex-rights (ex-dividend) record date is August 2, 2023. The Payment date of cash dividend distribution on August 23, 2023. Announcement • May 04
O-Bank Co., Ltd. Announces Cash Dividend for the Period from January 1, 2022 to December 31, 2022 O-Bank Co., Ltd. announced cash dividend to the shareholders of TWD 0.38 per share for the period from January 1, 2022 to December 31, 2022. Reported Earnings • Mar 18
Full year 2022 earnings released: EPS: NT$1.80 (vs NT$0.63 in FY 2021) Full year 2022 results: EPS: NT$1.80 (up from NT$0.63 in FY 2021). Revenue: NT$11.5b (up 31% from FY 2021). Net income: NT$5.03b (up 193% from FY 2021). Profit margin: 44% (up from 20% in FY 2021). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 07
Third quarter 2022 earnings released: EPS: NT$0.26 (vs NT$0.18 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.26 (up from NT$0.18 in 3Q 2021). Revenue: NT$2.38b (up 7.2% from 3Q 2021). Net income: NT$697.4m (up 44% from 3Q 2021). Profit margin: 29% (up from 22% in 3Q 2021). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 26
Second quarter 2022 earnings released: EPS: NT$0.11 (vs NT$0.14 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.11. Revenue: NT$1.94b (down 13% from 2Q 2021). Net income: NT$428.5m (up 8.8% from 2Q 2021). Profit margin: 22% (up from 18% in 2Q 2021). The increase in margin was driven by lower expenses. Upcoming Dividend • Jul 12
Upcoming dividend of NT$0.30 per share Eligible shareholders must have bought the stock before 19 July 2022. Payment date: 16 August 2022. Payout ratio is a comfortable 45% but the company is not cash flow positive. Trailing yield: 3.7%. Lower than top quartile of Taiwanese dividend payers (6.7%). In line with average of industry peers (3.8%). Valuation Update With 7 Day Price Move • Mar 23
Investor sentiment improved over the past week After last week's 22% share price gain to NT$11.00, the stock trades at a trailing P/E ratio of 16.3x. Average trailing P/E is 16x in the Banks industry in Taiwan. Total returns to shareholders of 53% over the past three years. Reported Earnings • Mar 18
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: NT$0.63 (up from NT$0.42 in FY 2020). Revenue: NT$8.76b (up 17% from FY 2020). Net income: NT$1.85b (up 79% from FY 2020). Profit margin: 21% (up from 14% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 7% per year. Reported Earnings • Nov 09
Third quarter 2021 earnings released: EPS NT$0.18 (vs NT$0.18 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: NT$2.22b (up 6.1% from 3Q 2020). Net income: NT$483.3m (up 9.2% from 3Q 2020). Profit margin: 22% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Executive Departure • Sep 23
Director Yunny Y. Lee has left the company On the 17th of September, Yunny Y. Lee's tenure as Director ended after 1.2 years in the role. We don't have any record of a personal shareholding under Yunny Y.'s name. A total of 3 executives have left over the last 12 months. The current median tenure of the management team is 1.42 years, which is considered inexperienced in the Simply Wall St Risk Model. Reported Earnings • Aug 26
Second quarter 2021 earnings released: EPS NT$0.14 (vs NT$0.088 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$2.24b (up 23% from 2Q 2020). Net income: NT$521.4m (up 145% from 2Q 2020). Profit margin: 23% (up from 12% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Executive Departure • Aug 11
Senior EVP & Chief Retail Banking Officer C. Y. Liu has left the company On the 7th of August, C. Y. Liu's tenure as Senior EVP & Chief Retail Banking Officer ended. We don't have any record of a personal shareholding under C. Y.'s name. A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 1.33 years, which is considered inexperienced in the Simply Wall St Risk Model. Upcoming Dividend • Jul 19
Upcoming dividend of NT$0.20 per share Eligible shareholders must have bought the stock before 26 July 2021. Payment date: 20 August 2021. Trailing yield: 2.8%. Lower than top quartile of Taiwanese dividend payers (4.9%). Lower than average of industry peers (3.6%). Reported Earnings • May 15
First quarter 2021 earnings released: EPS NT$0.17 (vs NT$0.052 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$2.28b (up 40% from 1Q 2020). Net income: NT$454.4m (up 265% from 1Q 2020). Profit margin: 20% (up from 7.7% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Executive Departure • Apr 17
Chief Risk Officer & Senior EVP has left the company On the 16th of April, Ying-Che Huang's tenure in the role of Chief Risk Officer & Senior EVP ended. We don't have any record of a personal shareholding under Ying-Che's name. Ying-Che is the only executive to leave the company over the last 12 months. Reported Earnings • Mar 26
Full year 2020 earnings released: EPS NT$0.42 (vs NT$0.45 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: NT$7.46b (up 1.9% from FY 2019). Net income: NT$1.03b (down 5.5% from FY 2019). Profit margin: 14% (down from 15% in FY 2019). The decrease in margin was driven by higher expenses. Non-performing loans: 0.35% (up from 0.33% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 7% per year. Is New 90 Day High Low • Dec 30
New 90-day high: NT$6.94 The company is up 3.0% from its price of NT$6.72 on 30 September 2020. The Taiwanese market is up 15% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Banks industry, which is also up 3.0% over the same period. Reported Earnings • Nov 07
Third quarter 2020 earnings released: EPS NT$0.18 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$2.10b (up 9.0% from 3Q 2019). Net income: NT$442.8m (up 41% from 3Q 2019). Profit margin: 21% (up from 16% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 7% per year whereas the company’s share price has fallen by 10% per year. Is New 90 Day High Low • Oct 14
New 90-day low: NT$6.61 The company is down 10.0% from its price of NT$7.32 on 16 July 2020. The Taiwanese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Banks industry, which is down 8.0% over the same period. Is New 90 Day High Low • Sep 24
New 90-day low: NT$6.63 The company is down 9.0% from its price of NT$7.26 on 24 June 2020. The Taiwanese market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Banks industry, which is down 7.0% over the same period. 
